date posted: 2002-06-01
The debate over what to do with the proceeds of the sale of Richmond Hill Hydro has already begun. Recently, with some 300 spectators in attendance, Council heard presentations urging us to use the Hydro funds to buy land to protect the moraine. Following considerable discussion, Council finally agreed that one of the options which would be considered would be a plan to purchase land at fair market value over a period of 5 years at a rate of 5 million dollars a year. To be clear, the only thing approved that night was that this would be one course of action which would be presented to residents of Richmond Hill for their consideration.
There have also been other suggestions put forward as to how these funds might be spent or protected. Since Council had previously agreed that no monies would be committed until we had consulted with the people who live in our Town; we expect to approve a method of public consultation whereby residents will have a change to make their wishes known in the very near future.
Should we spend some or all of the money? Do we protect the capital and use the interest proceeds? The wish list is already forming including the aforementioned possibility of purchasing land on the moraine if it is for sale.
This important decision deserves and will receive careful deliberation by Council. Let your elected officials know how you think we should proceed and become a part of this very important decision.